Overnight session (2):
So far, ES 1177 is holding. It also corresponded to YM 10800, now at 10914 and NQ 1700, now at 1717. The CPI data will be key, since many are now expecting a rate cut.
update: bonds caught a strong bid, after hitting 1200.50, ES dropped sharply, back down to 1184. The overseas markets are very nervous, to say the least.
So far, ES 1177 is holding. It also corresponded to YM 10800, now at 10914 and NQ 1700, now at 1717. The CPI data will be key, since many are now expecting a rate cut.
update: bonds caught a strong bid, after hitting 1200.50, ES dropped sharply, back down to 1184. The overseas markets are very nervous, to say the least.
Sept. 16 (Bloomberg) -- Central banks from Tokyo to Frankfurt injected cash into the financial system in a bid to calm markets still roiled by the demise of Lehman Brothers Holdings Inc.
The European Central Bank awarded 70 billion euros ($99.8 billion) in a one-day money-market auction today. The Bank of Japan added a total of 2.5 trillion yen ($24 billion) and the Bank of England pumped in 20 billion pounds ($36 billion). Counterparts in Australia and Switzerland took similar steps.
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